CAB can sell €500k assets linked to Kinahan gang

The High Court has cleared the way for the Criminal Assets Bureau (CAB) to sell assets worth €500,000, including several cars, which it believes are linked to the Kinahan organised crime gang.

CAB, which says that the assets are the proceeds of criminal activity, previously secured orders freezing jewellery, motorbikes, and cars, seized by it following raids at various locations in March 2016.

CAB’s proceedings are against Liam Byrne, who it says is a member of the Kinahan gang, and several of his associates.

Mr Byrne’s brother David was shot dead in the Regency Hotel in February 2016.

Yesterday, the court heard that, arising from media reporting of the case, Mr Byrne wants the rest of the proceedings heard in private.

In its action, CAB says the seized vehicles, linked to a bogus car sales company, were used by the Kinahan organised crime group as currency for services and for laundering money.

In February, the High Court appointed a receiver over the cars and granted orders allowing the receiver sell them.

The sales order was sought because the vehicles were depreciating in value but the court placed a stay on that order pending any application to the courts by individuals linked to the assets.

When the matter returned before Ms Justice Carmel Stewart yesterday, she said she was satisfied to lift the stay, except in relation to one car, where one of the respondents had filed a sworn statement.

Several lawyers representing the parties, including Tony McGillicuddy BL, for Mr Byrne, had asked for another week before lifting the stay.

After refusing to continue the stay on sale except in relation to one vehicle, Ms Justice Stewart adjourned the case to April 24, when all remaining matters, including any application to have the case heard in private, will be considered.